AfterBoards Logo
Skip to main contentSkip to solution

CUET Accountancy 2026 PYQs23 May Shift 2. Free, no login required.

Partnership

past year questions, CUET Accountancy 2026 23 May Shift 2

Admission

past year questions, Partnership, CUET Accountancy 2026 23 May Shift 2

Easy

common

Arrange the following steps in sequence for calculation of goodwill using Super Profit Method.

A. Calculate the average profit.

B. Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

C. Calculate the super profits by deducting normal profit from the average profits.

D. Calculate goodwill by multiplying the super profits by the given number of years' purchase.

Choose the correct answer from the options given below:

Solution

✅ Correct Option: 1

Average profit is computed first, then normal profit using the normal rate of return on capital employed. Super profit == average profit −- normal profit, and goodwill == super profit ×\times years' purchase. Order: A, B, C, D.

Related questions:

2022: 20 Aug Shift 2

Valuation of Goodwill takes place on which of the following occasions:

A. Incorporation of a new business

B. Change in profit sharing ratio

C. Amalgamation of partnership firm

D. Admission of a partner

E. Dissolution of firm or closure of business

Choose the correct answer from the options given below:

2026: 12 May Shift 1

Match List-I with List-II

List-IList-II
(A) Goodwill(I) Amount brought by new partner to compensate old partners
(B) Sacrificing ratio(II) Advantage of reputation, enabling firm to earn super profits
(C) New profit sharing ratio(III) Ratio in which old partner give up their share
(D) Premium for Goodwill(IV) Ratio after reconstitution of partnership

Choose the correct answer from the options given below:

2026: 13 May Shift 2

At the time of admission of new partner Vansh, old partners Shikha and Sheetal had debtors of Rs. 6,20,000 in their books. As per terms of admission, assets were revalued, and it was found that debtors worth Rs. 15,000 had turned bad and hence should be written off. Which journal entry reflects the correct accounting treatment of the above situation?

2026: 23 May Shift 2

A and B are partners sharing profits in the ratio of 4:3. C was admitted as a new partner for 1/4 share in the future profits of the firm. What would be the new profit sharing ratio of A, B and C?

2025: 16 May Shift 1

Under which method No. of Year's Purchase are not considered

2025: 3 June Shift 1

A new partner can be admitted:

Keyboard Shortcuts

  • Left arrow: Previous question
  • Right arrow: Next question
  • S key: Jump to solution
  • Q key: Jump to question

CUET Accountancy Past Year Questions (Topic-Wise)